The company's purpose is the operation and management of hotels and restaurants, wholesale and retail trade of all kinds of products; it may carry out all financial, commercial and property transactions and engage in all activities related to real estate transactions, including the purchase and sale of properties, management and administration, project development and implementation of real estate promotions, excluding operations prohibited by the Federal Act on the Acquisition of Real Estate by Foreigners (LFAIE) and participate in other companies in Switzerland and abroad. The company may establish branches in Switzerland and abroad, acquire companies with an identical or similar purpose or merge with such companies, carry out all operations and conclude all contracts suitable to develop its purpose or related thereto directly or indirectly.